Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Up 80.1% in March

by · The Cerbat Gem

Radius Recycling, Inc. (NASDAQ:RDUS – Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,050,000 shares, an increase of 80.1% from the March 15th total of 583,000 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average daily volume of 758,500 shares, the short-interest ratio is currently 1.4 days.

Hedge Funds Weigh In On Radius Recycling

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Radius Recycling by 87.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,502 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 5,815 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Radius Recycling by 28.6% in the third quarter. Stifel Financial Corp now owns 20,052 shares of the basic materials company’s stock worth $372,000 after buying an additional 4,455 shares during the period. Jane Street Group LLC grew its stake in shares of Radius Recycling by 62.9% in the third quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock valued at $1,684,000 after buying an additional 35,073 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Radius Recycling by 1.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock valued at $615,000 after buying an additional 610 shares during the period. Finally, Barclays PLC lifted its position in Radius Recycling by 156.2% during the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock worth $1,081,000 after acquiring an additional 35,568 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Radius Recycling in a research note on Friday. They issued a “sell” rating on the stock.

Read Our Latest Report on RDUS

Radius Recycling Trading Up 0.0 %

Shares of RDUS stock traded up $0.01 on Friday, reaching $29.11. 533,956 shares of the stock were exchanged, compared to its average volume of 376,010. Radius Recycling has a 1-year low of $10.57 and a 1-year high of $29.20. The stock has a market cap of $820.96 million, a P/E ratio of -2.91 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $21.73 and a two-hundred day moving average of $18.19.

Radius Recycling (NASDAQ:RDUS – Get Free Report) last released its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $642.51 million for the quarter, compared to the consensus estimate of $635.94 million. On average, research analysts anticipate that Radius Recycling will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 21st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, April 21st. Radius Recycling’s payout ratio is currently -7.52%.

About Radius Recycling

(Get Free Report)

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.

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